Key Highlights
- HYPE has decisively broken above $40 resistance, posting an impulsive rally from mid-$30s consolidation with higher highs/lows and brief highs near $42, driven by sustained buying pressure from commodities perps volume.
- Price trades well above the stacked EMAs, with the ribbon fanning upward and no bearish crossovers; confirming accelerating momentum and turning prior levels into dynamic support.
- RSI (14) at 65.31 sits firmly in bullish territory without overbought extremes or divergence, supporting continuation potential toward $42–$44 resistance while allowing room for constructive pullbacks to the $38–$39 EMA cluster.
Hyperliquid’s native token HYPE has broken through the $41 barrier amid a sharp rally that has seen it outperform much of the broader crypto market in recent days.
The token has powered through key resistance on the 4-hour chart, breaking decisively above the $40 level amid sustained bullish momentum as of March 17, 2026. Price action shows a clear impulsive advance from the mid-$30s consolidation zone earlier in the month, with a series of strong green candles driving higher highs and higher lows.
HYPE briefly tagged highs near $42 before a modest pullback, but it continues to hold firm around $40.50, reflecting ongoing buyer conviction tied to the platform’s explosive commodities trading volume. This breakout has flipped prior overhead supply into support, setting the stage for potential further extension if volume remains elevated.
The EMA ribbon on the 4-hour timeframe remains strongly bullish, with price trading well above the stacked moving averages. Shorter-term EMAs (around the 20/26 and 50/26 levels near $38.80 and $36.80) slope sharply upward and provide dynamic support, while the longer 100/26 and 200/26 EMAs lag further below at $34–$32 zones.
At the time, no bearish crossovers appear in the setup, and the fanning-out ribbon confirms accelerating upside pressure. With the RSI in bullish territory, this alignment suggests any near-term dips are likely to attract dip-buyers rather than trigger a reversal, keeping the path of least resistance higher as long as price respects the EMA cluster.
Geopolitical tensions ignite commodities trading surge
The primary spark for this latest hike in HYPE price has been driven after Hyperliquid frenzy in tokenized real-world asset (RWA) derivatives, particularly commodities tied to escalating geopolitical risks.
The recent tensions in the Middle East, including reports of friction around the Strait of Hormuz and U.S.-Iran developments drove crude oil prices above $100 per barrel in spot markets. In this episode, traders turned to Hyperliquid’s permissionless perpetual futures as a 24/7 hedging venue when traditional exchanges like CME are closed.
Oil-linked contracts (notably WTI) have seen explosive activity: weekend volumes exceeded $1.4 billion on some days, while HIP-3 open interest hit record highs around $1.3 billion.
Non-crypto assets, including gold and silver, now frequently account for over 60% of certain trading segments. This shift highlights Hyperliquid’s edge in capturing macro-driven flows that legacy platforms cannot match due to trading-hour restrictions.
Tokenomics flywheel and revenue momentum
Underpinning the price action is Hyperliquid’s robust fundamentals, centered on a revenue-sharing model that directly benefits HYPE holders. The platform has processed cumulative perpetuals volume surpassing $4 trillion, with recent daily figures often exceeding $10 billion and weekly totals in the tens of billions.
Fees—mostly directed to the Assistance Fund—have built a war chest exceeding $1 billion, fueling aggressive buybacks and burns. As per DeFiLlama data, Hyperliquid is currently generating over $2.68 million in daily revenue, leading the monthly amount to $54.92 million for the past month.
Approximately 97–99% of protocol revenue purchases HYPE on the open market, with over 41 million tokens (roughly 4% of supply) already burned. This creates ongoing deflationary pressure amid real, utility-driven earnings. Annualized revenue run rates are estimated in the hundreds of millions to over $1 billion in some projections, drawing comparisons to traditional fintech multiples.
Echoing the strong fundamentals behind protocol. Arthur Hayes, BitMEX Co-Founder, has called HYPE undervalued, targeting $150 by mid-to-late 2026 and naming it a top holding at his firm Maelstrom, citing the buyback efficiency and platform growth.
Outlook amid volatility
The rally has drawn comparisons to early Solana cycles, with analysts like Daniel Cheung noting similarities in real trading activity and undervaluation. Institutional interest, including macro funds and ETF-related flows, has grown as Hyperliquid positions itself as a go-to for weekend and after-hours price discovery.
Still, crypto remains volatile. A cooling of geopolitical headlines could temper RWA volumes, while competition from other DEXs or regulatory developments poses risks.
For now, HYPE’s surge appears grounded in product strength, including speed, zero gas fees on trades, and permissionless innovation, rather than speculation alone. Traders are eyeing $44–$50 as near-term levels if momentum holds.
Also read: T. Rowe Price Adds DOGE, SHIB, SUI in Crypto ETF Filing With 15 Assets
